Mounir Gwarzo, Director General Securities and Exchange Commission
Capital market shareholders differ on move
The Ministry of Finance yesterday suspended the director-general of the Securities and Exchange Commission (SEC), Mounir Gwarzo, over alleged financial impropriety and abuse of office.
The head of media division, Abdulsalam Naif Habu, and the head of legal department, Mrs. Anastasia Omozele Braimoh, were also suspended on allegation of financial misconduct.
Gwarzo was alleged to have paid himself a N104m severance package. Other allegations were: “He is a director in Medusa Investment Limited, in violation of Public Services Rules (PRS) 030424. He awarded contracts to the same company and other companies to which he is related, thus resulting in a conflict of interest.”
The Minister of Finance, Mrs. Kemi Adeosun, said his suspension would pave the way for unhindered investigation and was also in line with PSR 03405 and 03406, adding that a panel to determine his culpability had been set up.
Government suspends SEC boss, others over alleged impropriety
